November 16, 2017 / 4:46 AM / a year ago

SE Asia Stocks-Most climb on upbeat data; Vietnam scales fresh multi-yr peak

    By Karthika Suresh Namboothiri
    Nov 16 (Reuters) - Most Southeast Asian stock markets firmed
on Thursday, with Indonesia climbing about 1 percent after a
six-session losing streak and Vietnam scaling a fresh peak in
nearly a decade, as upbeat U.S. and regional economic data
boosted sentiment.
    Broader Asian equities gained after data showed that
underlying U.S. consumer prices increased in October and retail
sales grew more than expected, highlighting strong economic
    The data is seen as setting the stage for a December rate
hike by the Federal Reserve, an event largely factored in
already by investors, and as raising the prospects for further
monetary policy tightening.
    "US PPI (Producer Price Index) was a big beat. Economists
had expected an increase in October of 0.1 percent but instead,
the print showed a bounce of 0.4 percent which lifted the
year-on-year PPI to 2.8 percent from 2.6 percent and against
expectations of a 2.4 percent," Greg McKenna, chief market
strategist at CFD and FX provider AxiTrader, wrote in a note.
    Regionally, the Philippine economy grew at a
faster-than-expected pace of 6.9 percent in the third quarter,
supported by strong industrial output and services, the
statistics agency said.
    Philippine shares climbed 0.1 percent, with real
estate stocks leading the gains.
    The Philippine government is optimistic about meeting its
economic growth target of 6.5-7.5 percent for the year, the
Economic Planning Secretary said in a statement.
    The Indonesian index rose as much as 1.1 percent,
marking its biggest intraday gain in two weeks, with the telecom
sector accounting for most of the gains.
    Indonesia's central bank is expected to keep its key
interest rate unchanged in its policy decision on Thursday,
despite sluggish economic growth.
    Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
Tbk inched 1.9 percent higher, and was the biggest
boost on the index.  
    Vietnam shares jumped 0.6 percent to their highest
since January 2008. 
    After signing two agreements in last week's Asia-Pacific
Economic Cooperation (APEC) summit to buy gas at home and from
Indonesia, Vietnam could receive a significant boost to its
natural gas supplies as soon as 2023, aiding expansion in its
power and petrochemical sectors.
    The deals could give gas field development across Southeast
Asia a much-needed push after a slump in oil and gas prices in
2014 slowed investments. 
    Meanwhile, Malaysian shares declined 0.1 percent to
an eight-month low, with health care and telecom stocks leading
the losses.
    IHH Healthcare Berhad was down 0.7 percent, while
banker CIMB Group Holdings Berhad fell 0.2 percent.
    For Asian Companies click;  

  Change on the                                        
  Market           Current       Previous     Pct Move
  Singapore        3354.73       3368.7       -0.41
  Bangkok          1696.07       1690.26      0.34
  Manila           8284.68       8273.44      0.14
  Jakarta          6026.483      5972.311     0.91
  Kuala Lumpur     1720.94       1722.99      -0.12
  Ho Chi Minh      887.75        882.59       0.58
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3354.73       2880.76      16.45
  Bangkok          1696.07       1542.94      9.92
  Manila           8284.68       6840.64      21.11
  Jakarta          6026.483      5296.711     13.78
  Kuala Lumpur     1720.94       1641.73      4.82
  Ho Chi Minh      887.75        664.87       33.52
 (Reporting by Karthika Namboothiri in Bengaluru; Editing by
Amrutha Gayathri)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below